Chocolate becomes more expensive in Ecuador due to the increase in cocoa prices

The article highlights the significant increase in cocoa prices since the start of 2024, largely due to production issues in Ivory Coast and Ghana, which have led to financial challenges across the chocolate production chain. Paccari, a chocolate brand, has responded by raising its prices for the first time in 15 years, with other companies following suit. Paccari's co-founder, Santiago Peralta, emphasizes the need for price increases to prevent financial ruin in the industry, while Lidia Zambrano from Fortaleza del Valle Corporation calls for investment in plantations to improve productivity and competitiveness. The situation is further complicated by the high costs of buying cocoa at increased prices, with some producers selling to the highest bidder. The price hike has affected various chocolate products and is expected to influence the chocolate market dynamics, with Pablo Valdivieso from República del Cacao underscoring the need to educate consumers about the quality and value of fine Ecuadorian cocoa.